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“Third Party Providers shouldn’t be the weak link in your Supply Chain”

“Third Party Providers shouldn’t be the weak link in your Supply Chain”

by anas

Overview

A truly holistic Third Party Risk Management (TPRM) program goes beyond the reactive response that is typically limited to third party contract reviews, and takes a proactive approach to ensuring risk is adequately understood, communicated, and managed within acceptable thresholds.

As business increase their dependence on third parties, and customers increasingly are concerned about their provider’s risk posture, it is now evident from breach data of the last few years that some of the largest breaches in history have been made possible by a weak third party link, causing financial losses and reputation damage to many organizations. This is driving the need for a holistic approach the encompasses more than just review of third party contracts. 

Services Offered

Trustmarq offers TPRM services that cover the entire program lifecycle. Notable services are listed as follows:

Contact us to hear more about our various success stories on this subject matter and how our team can help you meet your business objectives in securely conducting business with third parties.

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Our team can facilitate program alignment with business objectives, assist with creation of a new program, or transformation of an existing program. 

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We routinely assist our clients with conducting third party risk assessments. Whether it is a compliance controls-based assessment, or a risk-aligned benchmarking, our team has successfully performed third party assessments over the last several years. 

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We also work with our clients to respond to our client's customer inquiries to ensure that our clients' risk, privacy, and security posture is adequately reflected and presented. 

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A dedicated team of TPRM practitioners, with deep knowledge of the TPRM space, and extensive cross-industry expertise has been managing the entire TPRM program from beginning to end. We integrate with our client teams to ensure we have the most current and relevant business context when working with third parties, while on the other hand, we use our industry intelligence to keep tabs on each third party's risk exposure to confirm that the risk exposure between our client and each third party remains current and manageable. 

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